Rate-hike wagers rebuild across the Fed, BOE, and ECB

Western central banks are edging toward tighter policy as an oil spike revives inflation fears on both sides of the Atlantic. Bloomberg

Early Fed signals fueled the shift:

Inflation is expected to cool for the first time since January:

Traders want tightening anyway:

Markets see the tightening running well into next year:

The Bank of England (BOE) and the European Central Bank (ECB) face the same pressure, Bloomberg

Europe's exposure runs through energy imports:

Conviction may not hold, though.

MARKETS THIS MORNING

Asia-Pacific markets opened higher this morning

Interest rates (CBE)

S&P Egypt Sovereign Bond Index

S&P MENA Bond & Sukuk

VIX (Volatility Index)

The EGX30 fell 0.6% at yesterday’s close